024-3 Wyo. Code R. § 3-7
(a) Following the public sale, the Director shall accept the highest bid. If two or more highest bids are identical, those bidders shall be given the opportunity to re-bid in an amount that is higher than their original bids.
(b) Bids that do not meet fair market value but are not less than seventy five percent (75%) of established fair market value shall be considered by the Director. The Director recognizes that a fair market value is based on an appraisal which is an opinion of value based on available sales data. Since it is an opinion, it may be in the best interests of the Department to sell the land at the bid price.
(c) All bids less than 75% of established fair market value shall automatically be rejected.
(d) On the day of the auction or when the bids are publicly opened, the successful bidder shall execute a sales contract prepared by the Department and tender a minimum of twenty five percent (25%) of the total purchase price for the land plus costs associated with the sale, in the form of cashier's check, certified check, or personal check with a letter of credit. If the successful bidder fails to sign the sales contract and pay a minimum of twenty five percent (25%) of the total purchase price for the land plus costs associated with the sale the Director shall automatically reject that bid and the director shall accept the next highest bid.
(e) The successful bidder shall pay the balance of the purchase price prior to receipt of the deed or title.
(f) All costs incurred by the Department in advertising the public notice of sale shall be reimbursed by the purchaser.
(g) Legal instruments transferring rights to the land shall be approved by the Department and the Attorney General's office.
(h) Nothing herein shall be construed to imply that the Department must accept offers to buy, or will be liable for conditions of the land prior to or after the disposal. Decisions to accept offers to buy are at the sole discretion of the Director.
024-3 Wyo. Code R. § 3-7